Tax climbs up to 20% of property price in Kingswood for mainland buyers
Article from Budget on the market and no surprise no hi, but the market is still shrouded in in spicy "double stamp duty recruit haze, second-hand trading continues to plunge, according to the Centaline Property and Ricacorp statistics Ten blue-chip estates of the past two holidays fell more than 35 percent last week. Thinly traded, but with the market conditions several times before moves, property prices extremely limited, the overall situation, "the amount of steady decline in value". More mainland people willing to pay the amount of tax of 19.5% in property prices of Kingswood.
Centaline Property, president of the Asia-Pacific area residential Alfred Chan Wing-kit said earlier, the Government launched a new stamp duty effective to add to uncertainty for the market, buyers fear late to buy that property prices would "level", the market attitude becomes hesitant, expected that buyers will wait for some time to see through the tactics the power of regulation, only to enter the market direction. The line statistics over the last two days of the 10 large housing estates recorded 11 transactions plunge 35.3% on a weekly basis.
Senior Executive Director of Hong Kong Property Wu venture, also known as the market has not been able to digest spicy recruit message, plus Budget is not much surprise on the market, second-hand trading fell into a stalemate. Ricacorp Properties president Liao Weiqiang estimated, a short fall in property prices by 3-5% seems inevitable, property prices in the pace of adjustment may be slow, it is believed that the second-hand trading requires a minimum of two weeks after the adaptation period before the rebound from the trough.
Half of the 10 large housing estates weekend has no transactions
Five weekends of 10 large housing estates in the Central Plains statistics traded holding egg ended Caribbean Coast recorded zero turnover performance in the second week in a row, Lai Chi Kok Mei Foo Sun Chuen and Whampoa Garden, Hunghom four consecutive weekends not recorded trading. City One Shatin and Kingswood two Territories blue chip Estate "to support the big city, only two estates accounted for a total of eight trading.
Midland Realty statistics represents 10 large housing estates weekend only recorded a turnover of about 9, or about 10% of the relative level of about 10 on the weekend. The Midland Group Executive Director and Chief Executive Officer of Residential Department Chen Kunxing said second weekend after the introduction of the spicy strokes regulation affect further emerging popular cars on the Shatin City recorded a turnover of estates and Kingswood Villas are visible The market at this stage the buyer who led to the users and the HSLS, the market only sporadic long-term investors into the market. Plus a few days ago, the Government announced the withdrawal of the Application List, disguised to quarterly introduced land tender, the government further control of land supply dominance in the market on current market conditions-see attitude.
Although thinly traded, but still some people still enter the market without fear of new taxes. Central Plains, said Xie Mingliang, Kingswood Villas, a mainland market cases, the buyer must pay a 15% buyer's stamp duty (BSD) and 4.5% of the double stamp duty (DSD). The transaction involving Lynwood five senior Room D, with a construction area of 709 square feet of salable area of 544 square feet by the mainland buyers undertake to 3.3 million HKD building PPSF 4,654 practical PPSF 6,066.
The turnover of the new buyers have to pay a total of 643,500 HKD in taxes, including about 495,000 HKD BSD and 148,500 HKD of the DSD. The original owners purchased the unit in 1997 to 2.68 million HKD, is changing hands book profit of 62 million units appreciation of 23.1%.
Glory Rise double stamp duty on transaction
In addition, North Point, Hong Kong Yat Heen investors denounced 400 million purchased a salable area of 337 square feet units, Century 21 the Beishan estate Yan Zhi Yun said that the turnover of units A Middle Floor ft price of the salable area of 11,869 HKD for investors, because buyers required to pay double stamp duty of 4.5%.
